Facility

Grasberg Mining Complex

Grasberg (Papua Province, Indonesia; altitude ~4,200m; FCX 48.76%, PT Mineral Industri Indonesia/Inalum 51.24%) is one of the world's largest copper and gold deposits by reserves, and historically the world's largest gold mine as a copper byproduct. Discovered by Dutch geologist Jean-Jacques Dozy in 1936; Freeport began developing the Ertsberg ore body in 1967 under a Contract of Work with the Indonesian government; Grasberg pit discovered 1988. The massive open-pit operation (Grasberg Open Pit — now largely mined out) transitioned to underground block cave mining (Grasberg Block Cave, Deep Mill Level Zone/Deep MLZ) in the late 2010s. Annual copper production approximately 370,000-450,000 tonnes (concentrate and cathode combined) and 1.2-1.6 million ounces gold. The 2018 divestiture to PT Mineral Industri Indonesia (Inalum) — required under Indonesia's Mining Law — transferred operating control to a new structure: PT Freeport Indonesia (PTFI) is 51.24% Inalum and 48.76% FCX, with FCX retaining operating management. Source: FCX Annual Report 2024.